Rimini Street Expands Scope of Rimini Support™ for Daekyo to Include Both Oracle and SAP Products Based on Proven Business Impact and Outcomes

Rhea-AI Summary

Rimini Street (NASDAQ: RMNI) announces that Daekyo, South Korea's leading education service, has expanded their Rimini Support services to include SAP, in addition to Oracle products. This shift is expected to optimize Daekyo's IT budget and improve operational efficiency. Since 2018, Daekyo has benefitted from Rimini's cost-effective support solutions, achieving up to 90% savings on support costs while maintaining a high service level with a 10-minute response time. The partnership will enable Daekyo to focus on digital transformation and enhance its competitive position in the edu-tech market.

Positive

• Daekyo expanded Rimini Support services to include SAP products, enhancing operational efficiency.
• Rimini's support solutions have saved Daekyo up to 90% on total support costs.
• Daekyo plans to leverage budget savings for digital transformation projects, aiming to become a leading online education service.

Negative

• None.

Daekyo funds and staffs next generation sales management system project with the cost and labor resources saved by switching Oracle and SAP annual software support to Rimini Street

LAS VEGAS--(BUSINESS WIRE)-- Rimini Street, Inc. (Nasdaq: RMNI), a global provider of end-to-end enterprise software support, products and services, the leading third-party support provider for Oracle and SAP software, and a Salesforce and AWS partner, today announced Daekyo, South Korea’s leading education service, has expanded their Rimini Support™ services from an initial scope of Oracle products to now include their SAP products as well.

After achieving proven business impact and outcomes with Rimini Street’s solutions, Daekyo expands scope of Rimini Street’s services. (Photo: Business Wire)

Daekyo is a leading education company in Korea that created a groundbreaking learning method that is tailored to the ‘eye level (Noonnoppi)’ of each child with one-on-one visiting learning system. It is realizing its vision of becoming the world's largest school by providing lifelong education services that cover all generations, from children to seniors.

Rimini Support Solves Budget and Vendor Support Challenges for Daekyo

Since 2018, Daekyo has successfully leveraged Rimini Support for its Oracle Database landscape, and continues to enjoy the vastly improved quality, speed and focus of service. For Daekyo, the following Rimini Support solution attributes were most beneficial:

• An assigned, named, local Primary Support Engineer (PSE) with an average of 20 years of experience, backed by a global team of hundreds of expert functional and technical engineers
• Service Level Agreements with guaranteed 10-minute response time, available 24/7/365
• Guaranteed minimum of 15 additional years of support without requiring costly, labor-intensive, low value upgrades or migrations
• Savings of up to 90% on total support costs to better focus resources on innovation and strategic initiatives

“A significant share of the company’s IT budget was allocated towards the maintenance of our Oracle and SAP enterprise software, and we constantly worried about the stability of our technical support system as well as the technical skills needed to support it in-house as the vendor support was insufficient,” said JinCheol Yoon, head of Daekyo’s Digital Support Office. “Rimini Street took the time to understand our business needs and proposed a tailored solution to reduce our cost and improve our Oracle and SAP system operations. With Rimini Support, we expect to reduce Oracle and SAP maintenance costs and leverage this budget to our IT infrastructure management.”

Rimini Support Helps Daekyo Lead the Edu-Tech Market

Rimini Street has earned the status of trusted partner to Daekyo for its mission-critical Oracle and SAP operations. With Rimini Street helping to optimize IT resource and budget spend on their Oracle and SAP software, Daekyo was able to invest these savings on its digital transformation project to accelerate business capabilities. This next-generation project will include the rebuilding of its IT infrastructure to enable the company to pivot towards becoming a full online digital education service.

“In the edu-tech market, strategic IT investment and digital innovation are imperative to remain competitive in the business,” said Rimini Street Korea’s country manager, Hyungwook Kim. “As a reliable technology partner, we remain committed to providing value and bespoke solutions to Daekyo as they continue on their successful digital transformation journey.”

Explore the full Rimini Street portfolio of ultra-responsive, trusted and proven support, managed services, security, integration, observability, professional services and Rimini ONE™ outsourcing solutions for SAP, Oracle and Salesforce applications to support competitive advantage, profitability and growth.

About Rimini Street, Inc.

Rimini Street, Inc. (Nasdaq: RMNI), a Russell 2000^® Company, is a global provider of end-to-end enterprise software support, products and services, the leading third-party support provider for Oracle and SAP software and a Salesforce and AWS partner. The Company has operations globally and offers a comprehensive family of unified solutions to run, manage, support, customize, configure, connect, protect, monitor, and optimize enterprise application, database, and technology software, and enables clients to achieve better business outcomes, significantly reduce costs and reallocate resources for innovation. To date, over 5,000 Fortune 500, Fortune Global 100, midmarket, public sector, and other organizations from a broad range of industries have relied on Rimini Street as their trusted enterprise software solutions provider. To learn more, please visit http://www.riministreet.com, and connect with Rimini Street on Twitter, Facebook and LinkedIn. (IR-RMNI)

Forward-Looking Statements

Certain statements included in this communication are not historical facts but are forward-looking statements for purposes of the safe harbor provisions under The Private Securities Litigation Reform Act of 1995. Forward-looking statements generally are accompanied by words such as “may,” “should,” “would,” “plan,” “intend,” “anticipate,” “believe,” “estimate,” “predict,” “potential,” “seem,” “seek,” “continue,” “future,” “will,” “expect,” “outlook” or other similar words, phrases or expressions. These forward-looking statements include, but are not limited to, statements regarding our expectations of future events, future opportunities, global expansion and other growth initiatives and our investments in such initiatives. These statements are based on various assumptions and on the current expectations of management and are not predictions of actual performance, nor are these statements of historical facts. These statements are subject to a number of risks and uncertainties regarding Rimini Street’s business, and actual results may differ materially. These risks and uncertainties include, but are not limited to, adverse developments in and costs associated with defending pending litigation or any new litigation; changes in the business environment in which Rimini Street operates, including the impact of any recessionary economic trends and changes in foreign exchange rates, as well as general financial, economic, regulatory and political conditions affecting the industry in which we operate and the industries in which our clients operate; the evolution of the enterprise software management and support landscape and our ability to attract and retain clients and further penetrate our client base; significant competition in the software support services industry; customer adoption of our expanded portfolio of products and services and products and services we expect to introduce; our ability to sustain or achieve revenue growth or profitability and manage our cost of revenue; estimates of our total addressable market and expectations of client savings relative to use of other providers; variability of timing in our sales cycle, and risks relating to retention rates; the loss of one or more members of our management team; our ability to attract and retain qualified employees and key personnel; challenges of managing growth profitably; our need and ability to raise additional equity or debt financing on favorable terms and our ability to generate cash flows from operations to help fund increased investment in our growth; the impact of environmental, social and governance (ESG) matters; actions in response to any lingering impacts of the COVID-19 pandemic and its economic, operational and financial impacts on our business; risks associated with global operations; our ability to prevent unauthorized access to our information technology systems and other cybersecurity threats, protect the confidential information of our employees and clients and comply with privacy regulations; our ability to maintain an effective system of internal control over financial reporting; our ability to maintain, protect and enhance our brand and intellectual property; changes in laws and regulations, including changes in tax laws or unfavorable outcomes of tax positions we take, or a failure by us to establish adequate tax reserves; our credit facility’s ongoing debt service obligations and financial and operational covenants on our business and related interest rate risk, including uncertainty from the transition to SOFR or other interest rate benchmarks; the sufficiency of our cash and cash equivalents to meet our liquidity requirements; the amount and timing of repurchases, if any, under our stock repurchase program and our ability to enhance stockholder value through such program; uncertainty as to the long-term value of Rimini Street’s equity securities; catastrophic events that disrupt our business or that of our clients; and those discussed under the heading “Risk Factors” in Rimini Street’s Annual Report on Form 10-K filed on March 1, 2023, and as updated from time to time by Rimini Street’s future Annual Reports on Form 10-K, Quarterly Reports on Form 10-Q, Current Reports on Form 8-K, and other filings by Rimini Street with the Securities and Exchange Commission. In addition, forward-looking statements provide Rimini Street’s expectations, plans or forecasts of future events and views as of the date of this communication. Rimini Street anticipates that subsequent events and developments will cause Rimini Street’s assessments to change. However, while Rimini Street may elect to update these forward-looking statements at some point in the future, Rimini Street specifically disclaims any obligation to do so, except as required by law. These forward-looking statements should not be relied upon as representing Rimini Street’s assessments as of any date subsequent to the date of this communication.

© 2023 Rimini Street, Inc. All rights reserved. “Rimini Street” is a registered trademark of Rimini Street, Inc. in the United States and other countries, and Rimini Street, the Rimini Street logo, and combinations thereof, and other marks marked by TM are trademarks of Rimini Street, Inc. All other trademarks remain the property of their respective owners, and unless otherwise specified, Rimini Street claims no affiliation, endorsement, or association with any such trademark holder or other companies referenced herein.

View source version on businesswire.com: https://www.businesswire.com/news/home/20230404005032/en/

Janet Ravin, VP, Global Communications

Rimini Street, Inc.

+1 702 285-3532

pr@riministreet.com

Source: Rimini Street, Inc.

FAQ

What is the significance of Rimini Street's partnership with Daekyo?

Rimini Street's partnership allows Daekyo to optimize its IT budget, reducing support costs and enhancing operational efficiency in its education services.

How much savings has Daekyo achieved by using Rimini Support?

Daekyo has achieved up to 90% savings on total support costs by utilizing Rimini Support for its Oracle and SAP systems.

What are the future plans for Daekyo after expanding Rimini Support services?

Daekyo plans to use the savings from Rimini Support to invest in digital transformation initiatives, aiming to enhance its position in the edu-tech market.

When did Daekyo start using Rimini Support services?

Daekyo has been utilizing Rimini Support for its Oracle Database since 2018, and recently expanded it to include SAP products.

What is Rimini Street's stock symbol?

Rimini Street is traded under the stock symbol RMNI on NASDAQ.